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The worst is yet to come for Russia's economy

Mon, Dec 22, 2014 - 5:50 AM

After trading at levels of 80 to the US dollar and 100 to the euro, the rouble appears to have stabilised at around 60 and 73, respectively.

PHOTO: REUTERS

Moscow

DEEP recession, skyrocketing prices and a fragile banking system: although the rouble seems to have stabilised after its abysmal drop in the past week, Russia still faces the heavy consequences of the turbulence.